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AustralianSuper adds ACTU president to board

The current president of the Australian Council of Trade Unions has joined the board of AustralianSuper, replacing a longstanding director and former deputy chair.

Michele O'Neil has been appointed as a director on the board of the nation's largest superannuation fund.

O'Neil has served as president of the ACTU since 2018 and is also a member of its executive team.

Prior to this she was national secretary of the Textile Clothing and Footwear Union of Australia (TCFUA) and spent 28 years with the union in total. In leading the TCFUA, she was instrumental in its merger with the Construction, Forestry, Mining and Energy Union and Maritime Union of Australia.

Welcoming O'Neil, AustralianSuper chair Don Russell said she is well placed to help the fund continue to grow as a global investor.

"Ms. O'Neil has vast experience with member-based organisations and has a deep understanding of the importance of putting members' interests at the centre of the decision-making process," Russell said.

Also commenting, O'Neil said she is looking forward to helping members achieve their best financial position in retirement.

"Superannuation is essential to Australian workers' long-term financial security and also a major contributor to the nation's economic prosperity," O'Neil said.

"It's an important time to be joining AustralianSuper and I'm looking forward to contributing to members achieving the best financial position possible in their retirement."

Her appointment sees the departure of Dave Oliver who has served on the fund's board for 14 years.

Oliver first joined the fund in 2007 and was appointed deputy chair in 2014, a position he held for about six years.

Oliver made an important contribution to the super system during his tenure, Russell said.

"Mr. Oliver has been a tremendous advocate of the superannuation system in Australia, and he has demonstrated an unwavering commitment to ensuring members have been at the heart of every decision that the AustralianSuper board has made," Russell said.

Read more: AustralianSuperACTUDave OliverDon RussellMichele O'Neil